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<<1) Do I simply wait until I have enough money in the account to buy my 10-15 stocks (and just go with an S&P 500 Index Fund while I wait)? >>

Not a bad idea. The index gives you lots of diversity. If you intend to trade individual stocks eventually you might want to try spiders (SPY). It is an S&P index that trades like a stock on the AMEX. It is not a mutual fund

<<2) How much is "enough money" for me to start buying these companies, and how many should I start with? I'm anxious to get going and don't want to wait too long. (Not looking for an exact amount, just the guidance of a ballpark figure).>>

If you intend to hold and not trade much, then the initial commissions are a one time hit. Buying even just a few hundred dollars worth of one stock and incurring a $12.00 commission doesn't mean much if you will hold the stock for several years of growth. I am currently trading one security every few days for short term profits. I couldn't afford to do this if I wasn't trading a large number of shares since the profits a about $1.00 per share.

<<3) I plan on changing my current 401k distribution so that all my money is in an S&P 500 Index Fund, but is it okay to have both my 401k and Roth IRA comprised solely of this Index Fund?>>

Certainly, if you are content with the S&P's performance. Your universe is the S&P 500 with a heavy weighting for the larger cap stocks. If I were you I would spread out a little and maybe put something into QQQ. Also an index, like SPY, but in technology stocks. This gives you two shots. I always like it when I check one part of my portfolio and it's down, but the other part is up. It's sort of like betting on several horses in different races. this can get out of hand, but I think some tech along with the S&P is a good combo.

BTW, when you start investing in stocks try to avoid going into more than 20 different stocks. You won't be able to stay current if you own too many different securities. I try to limit myself to just a few and then know as much as I can about those few. I'm a big believer in having just a few baskets and then watching the baskets very carefully.

Good luck!

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